Pretty much at the highs of the day. We will be following the instant reaction in the markets to what the fed chair has to say about the path of Interest Rates. Steve, thats where we begin. Does the fed chair come out and definitively kill june . I dont think so. They never definitively kill anything or definitively green light anything. But common sense would say that they are going to wait until they see at least another months numbers because that number was so bad, they cant go at this point. So look, theres good news, bad news. The good news is that they will wait. The bad news is if its a real number, and we see that trend continue, it means the economy is falling back and thats really bad news. Pete, what does the trader want to hear today . Well, they want to get a little more clarity. All weve got is this job, job, hey we will probably do this, the economy looks so great its now also last week, on friday, everything changed. All of a sudden we start seeing these numbers that a
The nasdaq has actually been leading today. That is a bit of a switch. Technology has been going in the same direction as other averages but an exaggerated move. A different scenario memo we have seen recently. The s p and dow remain lower and they remain lower than oil prices peered yesterday, we saw stocks drifting lower even as oil held up well. A different story today. If you look at oil, were seeing it down 4 . It bounced off the bottom, but still below 30 a barrel. Oil stocks are weighing on the major averages. We are seeing a lot of big percentage declines among the energy producers. Southwestern Energy Company particular, down 14 . Murphy oil, devon energy, a lot of these Energy Companies have come out in the past week or past couple of weeks talking about various ways to raise cash, whether it is sharing selling shares, cutting dividends. That has been weighing on them, also. Alix a lot of these guys reporting earnings next week like southwestern energy. Aside from oil, we had
Have looking for. Even as we do have lower trading volumes. This is the lowest volume of the year. If you look around asset we have conflicting testimony from janet yellen herself. Some other fed speakers more recently with a little bit more of a hawkish stance emphasizing the april could be on the table for a cut. The market is not buying it. We have rates lower. The two year yield is at 0. 8 4 . , theu look at currencies rates are going to go higher. The dollar is a little bit lower versus the yen. Were not seen a huge amount of change. The bias is to the downside. We are looking at interestrate futures on the bloomberg. The probability of a hike being priced in is 6 . It rises from there. We are definitely not seen a very aggressive pricing into the market. Oil has been moving sharply lower today. Tonight we are going to get the industry report. Tomorrow, the government report. Gold futures are gaining a little bit. From into the comments janet yellen. Alix thanks a much. Lets get f
Welcome to monday morning on Market Makers. Erik schatzker is skiing all week long. We have a special treat in store. Bill on like kanye, i will not upstage you. Stephanie this is my guest anchor for the day. I do not think kanye upstage anyone. Bill it is the postgrammy interview where he did say stephanie what did you think . Bill i dont know. Stephanie did you listen to becks album . Bill he is a gifted artist. Truth be told, i did not know he had an outcome. I would have given it to beyonce. There are other things to talk about besides kanye. Those betting on a greek failure are paying are playing with fire. He will go see it with creditors up to a point. It will be reflected in a midterm plan and will respect the but will not condemn it to austerity. Stephanie finance ministers meet monday on how much money greece needs. We are expected to hear from them less than 90 minutes from now. The president is being pushed to provide weapons to ukrainian forces. Sales fall at the largest r
Darkness. Schools are letting students out early. This is a live picture of the area seen by our affiliate news helicopter. The problem was apparently caused by a major cable failure. Officials at dte edison are working on the problem and the power is slowly coming back on. Detroits mayor will give an update later this afternoon. General motors, one of the only big three auto makers located in downtown detroit says there has been no impact at the Renaissance Center headquarters. Now to Courtney Reagan with breaking news on amazon ceo jeff bezos. Amazon ceo rarely speaks out not at Quarterly Earnings calls and conferences except for today. He just wrapped up at the websites ignition conference expecting topics as drones and websites to what he is like as a dad. Here is what he had to say after the last disappointing report. You have been a shareholder for a long, long time. Happy, rode it up in the bubble. Very much believer in the long term, investment cycle and big bets. Even i last q